Oppenheimer Asset Management Inc. Cuts Stock Holdings in FirstEnergy Corporation $FE

Oppenheimer Asset Management Inc. decreased its stake in shares of FirstEnergy Corporation (NYSE:FE) by 93.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,469 shares of the utilities provider’s stock after selling 65,744 shares during the period. Oppenheimer Asset Management Inc.’s holdings in FirstEnergy were worth $200,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of FirstEnergy during the third quarter valued at approximately $27,000. State of Wyoming purchased a new position in shares of FirstEnergy during the second quarter valued at approximately $25,000. Olistico Wealth LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $31,000. Quest 10 Wealth Builders Inc. boosted its position in shares of FirstEnergy by 507.9% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider’s stock valued at $34,000 after buying an additional 640 shares during the last quarter. Finally, Networth Advisors LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Insider Buying and Selling at FirstEnergy

In related news, CFO Jon Taylor K. sold 26,800 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $50.94, for a total value of $1,365,192.00. Following the sale, the chief financial officer directly owned 119,552 shares in the company, valued at approximately $6,089,978.88. The trade was a 18.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jason Lisowski sold 1,373 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $50.84, for a total value of $69,803.32. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,118 shares of company stock worth $1,989,532 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wolfe Research cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded FirstEnergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of FirstEnergy in a research report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their target price on FirstEnergy from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price target on shares of FirstEnergy in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and a consensus price target of $51.92.

FirstEnergy Trading Down 1.9%

NYSE:FE opened at $44.32 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $25.64 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.17 and a beta of 0.48. The firm’s 50 day moving average is $50.03 and its 200 day moving average is $47.65. FirstEnergy Corporation has a 12 month low of $39.28 and a 12 month high of $52.34.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. FirstEnergy’s revenue was up 11.6% on a year-over-year basis. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. Sell-side analysts expect that FirstEnergy Corporation will post 2.73 earnings per share for the current year.

FirstEnergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be paid a $0.465 dividend. The ex-dividend date is Thursday, May 7th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.45. This represents a $1.86 annualized dividend and a dividend yield of 4.2%. FirstEnergy’s dividend payout ratio is presently 101.09%.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid?Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.